The little things in life. =)

After so long of thinking that my brain is in the process of mis-wiring itself, so you're the culprit! omg. What a relief. =) Haha, and WHAT a name. XD (That is an actual clinical terminology, can you believe it?! pubmed it!) http://en.wikipedia.org/wiki/Exploding_head_syndrome

I was intrigued by all the claims and numbers flying around surrounding the HDB issue so i decided to do some quick calculations on my own last night. The results i found were rather interesting. It all started from something that one mp said about this situation: "  $1k/mth CAN buy 2RHDB flt@$100k?YES! 1st timer get $60kHDB grants. $40k balance fully covered in 25/30yr by ur CPF  ". Let's dissect the situation. Imagine we have a scenario of a 35year old man, drawing a fixed $1k/mth salary. Using the CPF contribution calculator ( http://www.cpf.gov.sg/cpf_info/Online/Contri.asp ), his monthly contribution to the ordinary CPF account would be $180.29 (35-45yo), $163.10 (when he is 45-50 yo), $110.52 (50-55yo), $95.670 ($55-60yo), which drops as you go. This amount in his CPF account can be used to pay for his flat. Scenario: payment in 30 years Basic amount to be paid per month to complete payment in 30 years: $111.11 Prevailiing interest rates: 2.60% p.a. Compo